# Vestis Corporation (VSTS)

> Source: Nexqual · https://nexqual.com/VSTS · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Vestis Corporation (VSTS), nexqual.com/VSTS" · informational, not investment advice.

**Price:** USD 14.75 (+1.37% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 14.55 · day 14.4–14.8 · 52w 4.83–16.9 · market cap $1.95B · NYQ

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $2.70B, net income -$5.3M (-0.2% margin), free cash flow $136M (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $1.0M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.38 on a 1–5 scale) (8 analysts), mean target USD 13 (range 9.3–17).
- Total return with dividends: 1Y +180.4% vs S&P 500 +13.4%; 5Y -22.5% vs S&P 500 +76.9%.
- Next earnings: 2026-11-19, EPS estimate USD 0.17, revenue estimate $666M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $2.69B | $2.83B | $2.81B | $2.73B | $2.70B |
| Operating income | $192M | $218M | $158M | $64.4M | $98.2M |
| Net income | $142M | $213M | $21.0M | -$40.2M | -$5.3M |
| EPS (diluted) | $1.08 | $1.63 | $0.16 | -$0.31 | — |
| Free cash flow | $156M | $179M | $393M | $5.8M | $136M |
| Operating margin | 7.2% | 7.7% | 5.6% | 2.4% | 3.6% |
| Net margin | 5.3% | 7.5% | 0.7% | -1.5% | -0.2% |
| Revenue growth | — | +5.1% | -0.7% | -2.5% | — |
| Cash + short-term investments | $23.7M | $36.1M | $31.0M | $29.7M | — |
| Total debt | — | $1.49B | $1.16B | $1.17B | — |
Fiscal years end Oct. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/S 0.7x · EV/EBITDA 12.6x · EV/Sales 1.1x · P/FCF 14.3x · P/B 2.2x · FCF yield 7.00% · Earnings yield -0.27% · Dividend yield (paid, TTM) 0.00% · Net debt $1.03B · EV $2.98B
P/E at fiscal year-ends: Sep 2024 93.6x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $1.0M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-02 | Barber James J. | President & CEO | 84,500 | $1.0M | 12.37 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.38 on a 1–5 scale), 8 analysts; mean target USD 13 (low 9.3, high 17).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-13 | JP Morgan | Target raised | Underweight | $11 → $13 |
| 2026-08-13 | Barclays | Target raised | Underweight | $9 → $11 |
| 2026-08-12 | Stifel | Target raised | Hold | $11 → $14 |
| 2026-08-12 | Goldman Sachs | Target raised | Sell | $8.2 → $9.3 |
| 2026-08-12 | Baird | Target raised | Neutral | $15 → $16 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2023-09-25) |
|---|---|---|
| Total return | +180.4% | -22.5% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +181.4% | -8.0% |
| Volatility (annualized) | 54.7% | 66.0% |
| Max drawdown | -26.5% (Jul 2026→Sep 2026) | -81.1% (Jan 2024→Sep 2025) |

## Peers (Rental & Leasing Services)
CTOS (Custom Truck One Source, Inc.) USD 9.06 +2.14% · LIME (Neutron Holdings, Inc.) USD 26.19 -2.39% · MGRC (McGrath RentCorp) USD 117.16 +0.30% · WSC (WillScot Holdings Corporation) USD 16.26 -1.39% · PRG (PROG Holdings, Inc.) USD 30.27 -4.90% · CAR (Avis Budget Group, Inc.) USD 101.34 -0.21%

## More
Full page: https://nexqual.com/VSTS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| United States | $600.7M | 90.8% | -2.0% | $55.5M | 9.2% |
| Canada | $60.9M | 9.2% | +0.7% | $2.3M | 3.9% |
| Corporate costs (not allocated) | — | — | — | -$20.6M | — |
| Total revenue | $661.7M | 100% | — | $57.9M | 8.7% |

## Revenue by product line (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Workplace Supplies | $419.5M | 63.4% | +1.5% |
| Uniforms | $242.1M | 36.6% | -7.0% |
| Total revenue | $661.7M | 100% | — |

## Revenue by region (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $600.7M | 90.8% | -2.0% |
| Canada | $60.9M | 9.2% | +0.7% |
| Total revenue | $661.7M | 100% | — |

## Company outlook (8-K filed 2026-08-11)

- "Increases full year 2026 Free Cash Flow* outlook by $30 million, or 22%, at the midpoint;"
- "On track to deliver against full year 2026 revenue and Adjusted EBITDA* guidance supported by strong execution ATLANTA, GA, August 11, 2026 – Vestis Corporation (NYSE: VSTS), a leading provider of uniforms and workplace supplies, today announced its financial results for the fiscal third quarter ended July 3, 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.17 | $0.13 | +33.0% | $666.1M | 6 |
| Next quarter (ends 2026-12-31) | $0.17 | $0.13 | +28.5% | $673.1M | 5 |
| Current fiscal year (ends 2026-09-30) | $0.61 | $0.49 | +26.3% | $2.65B | 7 |
| Next fiscal year (ends 2027-09-30) | $0.78 | $0.66 | +16.9% | $2.70B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-19): ±11.5%; last 8 reports averaged ±15.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 51.4% | ±11.5% |
| 2026-12-18 | 55 | 83.3% | ±26.1% |
| 2027-02-19 | 118 | 61.4% | ±27.8% |
| 2027-05-21 | 209 | 62.6% | ±37.3% |